- Galaxy Digital transferred 11,910 BTC worth $1.39 billion to exchanges within 9 hours, causing Bitcoin’s price to crash below $115,000.
- Whale-linked wallet sent over 22,700 BTC to Binance, Coinbase, and others, while still holding $1.7 billion in Bitcoin reserves.
- Previous Galaxy Bitcoin dumps preceded strong altcoin rallies, prompting speculation of possible liquidity rotation toward alternative crypto markets.
Bitcoin briefly crashed to $115,000 overnight, and all eyes are on Galaxy Digital. The firm reportedly moved 11,910 BTC—worth approximately $1.39 billion—to exchanges within just 9 hours, according to SpotOnChain. This movement is believed to be linked to the infamous 80,202 BTC ancient whale, previously responsible for a $9.5 billion sell-off.
Galaxy Digital’s Dump Triggers Overnight Slide
According to @esatoshiclub, Galaxy Digital has been dumping Bitcoin non-stop. Their latest move—nearly 12,000 BTC—landed on multiple major exchanges, triggering panic across the market. The sheer size of the sell-off, executed in less than half a day, caused Bitcoin to tumble sharply below $115K before showing slight recovery.
Analysts believe the address linked to these transactions is associated with the legendary “ancient whale,” adding more weight to concerns about coordinated large-scale exits. With Bitcoin’s price now hovering around $116,512, the pressure is still on.
More Selling May Be Incoming
On-chain tracker Darkfost_Coc revealed that over 22,700 BTC was sent to exchanges today from address bc1q0phe, which had recently received 40,000 BTC. This address, tied to Galaxy Digital, still holds another 15,000 BTC—roughly $1.7 billion in potential sell pressure.
The BTC was sent to Binance, Bitstamp, Coinbase Prime, OKX, and Bybit, indicating coordinated dispersal across global exchanges. If this remaining BTC hits the market, Bitcoin could face even more downside pressure within the day.
Could Altcoins Benefit from the Fallout?
Despite the dump, some traders are hopeful. Satoshi Club pointed out that the last time Galaxy Digital offloaded Bitcoin at this scale, altcoins rallied shortly after.
While it’s unclear whether the same pattern will repeat, speculation is rising that Galaxy may rotate some of the offloaded capital into altcoins, potentially sparking the next altseason. For now, the market is watching closely as Galaxy’s next move could shape what comes next.
